What is suspence a\c? why it should not transferred to the
balance sheet?
Answer Posted / mazahar
simple answer
suspense account generally created when the expenses not
confirmed to original entry. once it confirm the expenses
then transfer to original account.
suspense a/c Dr
cash a/c cr
( suspense account for time being )
after defined the original entry (salary a/c)
salary ac Dr
suspense ac cr
Is This Answer Correct ? | 4 Yes | 1 No |
Post New Answer View All Answers
1.Which type of records maintaing for Hotels and provision Stores. 2.in Which type of returns we are going to file. tell me whos know brefiely,,
in tally ,professional fees head will come under which income group ,direct or indirect if the business of owner is designing work or related to creativity
What do you mean by Bill of Exchnage.How to manage ? Explain
While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated
1.what is the entry of petrol of payment made by credit card of owner? 2.what is the entry of petrol of payment made by credit card of Company?
hi for all i completed Mba finance in 2008.then i got a job in kpo capital iq as jra for 1 year than i left it and done a course sap fico so now looking for a job in sap how to approach? pls give me answer
What is the general entry for charge on bank overdraft
Hi wht r da questions which are mostly asked in an Accounts related job for freshers?
How can you made payment when bill come from vendor, what is the bills have you check.
The main financial accounting statements?
sir i want know how to fill vat return
Explain what are the accounting events that are frequently involved in compound entries?
what are the disadvantages of back-flush accounting?
what is capital reserve
A COMPANY IS SERVICE PROVIDE TO B CO. 100,000 AND CHARGED STAX 10000 TOTAL BILL RAISED 110000 AND RECIEVED 30% FROM B IN DECEMBER AND 40% RECIEVED IN 10JAN2011, BALANCE 40% RECD IN 10 FEB2011 WHAT WILL BE GENERATED ACCORDING ACCOUNTING PRENCIPLE OF BOTH SIDE (MEAN A &B) WITH REVANUE& PROVISION PLEASE TELL ME